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GRAINS

GRAINS: December corn futures closed down 1 3/4 cents at $3.91 1/2 today. Prices closed near the session high today and saw more profit taking after hitting a two-month high Monday. The bulls still have the slight overall near-term technical advantage but need to show fresh power soon. A five-week-old uptrend is still in place on the daily bar chart.

November soybeans closed down 5 1/2 cents at $9.28 1/2 a bushel today. Prices closed nearer the session low on more profit taking after hitting a nearly four-month high Monday. Bulls still have the firm overall near-term technical advantage. Prices are in a five-week-old uptrend on the daily bar chart.

December soybean meal closed down $3.10 at $304.70 today. Prices closed near the session low today on more profit taking after hitting a 2.5-month high on Monday. The bulls and bears are on a level overall near-term technical playing field.

December bean oil closed up 5 points at 30.44 cents today. Prices closed near mid-range and closed at a seven-month high close today. The bulls have the overall near-term technical advantage.

December SRW wheat closed up 7 1/4 cents at $5.14 1/4 today. Prices closed near the session high and closed at an 11-week high close today. Bulls have the overall near-term technical advantage. Prices are in a six-week-old uptrend on the daily bar chart.

December HRW wheat closed up 4 1/4 cents today at $4.25 1/2. Prices closed near the session high today. Bears still have the overall near-term technical advantage. However, prices have been trending higher for six-weeks.